Gina Rinehart’s $3m bonus prize pool for Australian athletes

Fresh of committing $60 million in sport funding and cheering on our Aussie swimmers, Gina Rinehart has splashed the cash again.

Gina Rinehart has pledged to reward Australian athletes who win medals and break world records at international competitions as part of a new $3 million funding program.

Australia’s richest person is already funding some of Australia’s most successful Olympic sports by directly funding swimming, rowing, volleyball and synchronised swimming in a commitment worth $60 million.

But this new scheme will see Rinehart offer a significant financial incentive to Aussie athletes who perform on the world’s biggest stages.

Under the $3 million program, athletes will be rewarded if they win a medal at a major international competition in 2023 or 2024.

For instance, an Aussie swimmer who won gold at last month’s world championships in Japan will pocket $20,000, and $30,000 if they broke a world record.

Gina Rinehart is stumping up some serious cash for Australia’s Olympic athletes. (Photo by Quinn Rooney/Getty Images)

Australia’s swimming team won 13 gold medals and broke six world records in Fukuoka, so our biggest stars are set for a major payday.

The wallets of Mollie O’Callaghan and Ariarne Titmus will be a bit heavier after they both broke individual records in the 200m and 400m freestyle, and set new global marks in relays.

It’s a double payday of sorts for our swimming stars because World Aquatics also came to the party with cash bonuses for medals and world records at the world titles.

Any Australian athlete who wins a medal of any colour at the Paris 2024 Olympics and Paralympics in the sports Hancock Prospecting supports will get a financial reward.

Rinehart was in the stands in Japan to watch Australia top the medal tally at the recent world swimming championships.

Australian swimmers including Shayna Jack, Kaylee McKeown and Kyle Chalmers have all publicly thanked Rinehart for her support of their careers.

The 69-year-old has also backed the Gold Coast’s bid to save the 2026 Commonwealth Games after Victoria pulled the pin as hosts of the event following claims of an operating costs blow out from $2.6 billion towards $7 billion.

Mollie O'Callaghan won five gold medals at the world swimming championships. Picture Lachie Millard

It comes amid fears the Commonwealth Games are in free fall after Canada pulled out of a bid to host the 2030 Games.

The Games currently have no future events planned and no host city.

London and a multi-city Scottish bid for the 2026 Games have received public support. Christchurch, in New Zealand, has also shown interest.

The Courier Mail reports Rinehart is not prepared to fund the Games herself but is prepared to do whatever is needed to help the Gold Coast secure the Commonwealth Games.

A spokesman for Rinehart said “direct athlete support” would remain the focus of Hancock Prospecting’s sports funding program, but she would back a Gold Coast bid.

Gina Rinehart’s Olympic bonus program (AUD)

World record: $30,000

Gold medal: $20,000

Silver medal: $15,000

Bronze medal: $10,000

Relays (swimming)

World record: $7,500

Gold medal: $5000

Silver medal: $3,750

Bronze medal: $2,500